Moose Cree First Nation/ SNC-Lavalin/ Spruce Falls Inc. MOU Agreement

On January 1997, a Memorandum of Understanding (MOU), was signed between SNC-Lavalin, Tembec and the Moose Cree First Nation to work cooperatively on development of a series of hydro-electric projects on the Mattagami River in Northen Ontario. Each partner holds 30.3% equity interest in the partnership.